The world’s top-performing stock is … a mortgage company?

By wpcomimportuser1 | February 4, 2008 | +

Been wondering what the best-performing stock in the world was in January? Well, I just got an e-mail from Russell Investments informing me that it was Impac Mortgage Holdings, an Irvine, Calif., based REIT that specializes in buying Alt-A mortgages. IMH was up a stunning 156% in January.

What was the secret to that amazing performance? Well, falling 94% over the course of last year may have had something to do with it.

Rounding out the top five, by the way, were:

Idenix Pharmaceuticals, U.S., 92%
Egdon Resources, U.K. 68%
Hung Poo Construction, Taiwan, 64%
Labopharm, Canada, 63%

(and yes, this entire post really was just an excuse to write the name “Hung Poo”)

Related Topics: Economy & Policy

@TIMEBusiness

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ccmoore

I like weeklystockwatch.com – it’s a small fee to see for yourself all the top 20 REALLY top performance stocks every week. They weed out anomalies in growth and present only the real top performance stocks… not just the past week, but their criteria eliminates those that have not had consistent growth over the past year. This seems to me to be a very good site; does anybody have any comments on it?